Day 398: RBNZ cuts rates

Profit: -$0.40 Total: $1,178.18

The RBNZ cut their rates by 0.25% as expected and the markets had a favorable reaction toward the NZD. Just like how the AUD appreciated after RBA’s decision to cut rates, the NZD followed the inverse trend and appreciated post rate cut. It seems like regardless of what the central bank says, people are buying the dip with the NZD.

The NZD/USD was totally weird today but it didn’t surprise me after seeing the AUD/USD behave in the similar fashion. The dollar still couldn’t find a bottom and my failed attempts at shorting the NZD/USD ended in negatives. Luckily my risk management was good enough to face minimal damages. Looks like the trend is still short dollar.

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